Bookmark
home about us contact us faq sitemap
Our Recommendation
  • Credit cards are a convenient way to pay for goods and services without having to carry around cash. Credit card companies offer various plans where consumers are advanced credit up to a certain limit to pay for items.

  • The user is then billed at the end of the month for all the transactions that took place. In this sense it is different from a debit card, which takes money directly from your account, with no loan taking place.

  • If the debt is paid off immediately and in full, there is usually no interest charged.

  • Credit cards can therefore be the cheapest way of availing of credit, if used correctly and responsibly.
home
our products
Standard
Balance Transfer
Low Interest
Security Issues
Scoring
Calculators
Compare
FAQ
Bad Credit
Speciality
Instant Approval
Merchant Accounts
Glossary
Newsletter SIGNUP
subscribe
credit cards faq/glossary
The most common questions asked about Credits Cards.
read more INFORMATION
Invest in foreign currency
Credit Cards
Credit Card Interest Rate Balance Transfer Rate Interest free days (up to) Annual Fee Rewards
Public Savings Bank Classic Visa
10.99%
p.a. 6 months,
then 18% p.a.
0%
p.a. 6 months,
then 11.24% p.a.
0%
25 days
None None
EGG
Credit Card
17.9%
p.a. variable
0%
p.a. until
1 November 2011
0%
45 days
None Purchase protection insurance
Escape by Discover®
Card
10.99%
p.a. variable
0%
p.a. 6 months,
then 10.99% p.a.
0%
25 days
$60 Miles for travel credits, Cash,
Gift Cards
Discover®
More Card
11.99%
p.a. variable
0%
p.a. 12 months, then 11.99% to 20.99% p.a.
0%
25 days
None 5% Cashback Bonus + $100 for $500 in purchaes in first 3 months
Discover®
Motiva Card
11.99%
p.a. variable
3.99%
p.a. for 15 months, then 11.99% p.a. variable
0%
25 days
None Pay-On-Time Bonus, 1% unlimited Cashback Bonus
Credit Cards
balance transfer
Choose a low rate balance transfer credit card and look for special cash rewards programs.
read more
low interest
Regardless of your credit rating you may be eligible to apply for an advantageous low interest card.
read more
However, there are a few potential dangers. The rate of interest is charged on the total sum owed, even if part is paid off immediately, so unless you are in a position to totally pay off your card, it can be easy to rack up large amounts of debt. On the other hand, once you realise that a credit card is like any other form of credit, and must be used wisely and within the limits of your means, they can be hugely convenient and secure.
While credit cards can be stolen just like money, unlike cash they can be cancelled when you realise this, making them much safer to carry than large amounts of money. Once their theft is reported promptly after the incident, it should cause only a little inconvenience.

Credit cards can be especially useful for eager travellers. The fact that credit cards are so universally accepted (especially those powered by Visa or MasterCard) around the world means that carrying huge amounts of foreign currency or travellers’ cheques can be a thing of the past. Credit cards allow you to not only pay for items, but withdraw local currency from ATMs. While there are charges for foreign withdrawals, if used in large chunks rather than many small withdrawals, these costs can be negligible.

Similarly, having a credit card opens up the world of internet shopping, since they are by far the most convenient and broadly accepted means of payment over the web. Shopping online with a credit card can save you hundreds while giving you all the convenience of shopping from home. Credit cards can open the world up to you, whether travelling abroad or staying at home.
The important thing when looking for a credit card is to find the right plan for you. There are dozens of available options on the market, including cards from the traditional big companies such as Visa, MasterCard and the banks and ranging to the more unusual providers such as supermarkets and even airlines! It is wise to spend the time sitting down and looking for the right credit card for you – in the long term it will save you time and money.

While the most immediate and obvious concern is the rate of interest charged on the credit card (which usually ranges from 11% to 19%), there are other considerations as well. Many cards have extra charges you may not have thought of – a charge for going over your limit; a charge for cash withdrawals from your card; foreign exchange charges, etc. You should take these factors into consideration as well when applying for a card.

Choose the card with the right combination for you, and do not simply look for a high credit limit. Application is generally straightforward and easy, with all the details provided by the institutions offering the cards, usually along with the promotional information.
Consider credit cards that offer low introductory rates. These are certainly attractive to first time users, and may charge little to no interest in the first year. This can be very convenient, but be careful not to run up huge debts in this interim period – after the introductory time, rates usually rise to be quite high and are charged on all the money you have borrowed since getting the card. Remember, if anything looks too good to be true, it probably is and there are many fraudsters out to prey on the unwary consumer, innocent of financial matters. On the other hand, this does not mean you should avoid low interest cards or any other non-mainstream credit card.

pay off debt

Often, with everything taken into account, they will offer better value than credit cards from the big banks.

Credit cards have had a huge impact on the way people shop. They have made credit relatively cheap and easy, and have brought a new dimension of convenience to shopping. While there are certain caveats to bear in mind when using your credit card, they can be of great benefit, and your question now should be “Which credit card should I apply for?”

Using a credit card to get the funds is not so practical therefore taking out a loan is a good idea, but taking out payday loans which are quick and sensible is an even smarter idea. The aim of the loans is not to get you into deeper cycles of debt but rather help you attain the funds that you need to kick start your business through competitive rates and flexible payback time periods.


Debt Consolidation | Debt Consolidation Loans, Refinance, Short Term Loans - The Australian Lending Centre is a specialist in debt consolidation and a leading supplier of financial services including home loans, refinancing, short term loans, business loans, investment loans and debtor finance.